Ignore the doomsayers. The United States is still the world’s leading economy and will remain so in the future. With its global talent pool and world-class institutions, the U.S. has a competitive edge in virtually every emergent technology. Web3 is no exception.
Despite its advantages, America is bungling its chance to dominate the digital economy. In what Messari CEO Ryan Selkis aptly dubs “a colossal public policy failure,” America’s semi-official stablecoin, (USDC), is losing ground to its ex-U.S. rival, (USDT). If policymakers don’t step up soon, America may fall behind for good.
Alex O’Donnell is the founder and CEO of Umami Labs and worked as an early contributor to Umami DAO. Prior to Umami Labs, he worked for seven years as a financial journalist at Reuters, where he covered M&As and IPOs.
This story originally appeared on Investing
